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China Business FAQs

DOES CHINA HAVE THE LARGEST ECONOMY IN THE WORLD?

The U.S. currently has the largest economy in the world with an approximated GDP of over $13,000,000,000,000.  China is second to the U.S. with a GDP of $7,000,000,000,000. But China has steadily risen since 2004, going from 6th to 2nd place. It is predicted that it could become the largest economy in the world as soon as 2020.

WHAT IS GUANXI?

Guanxi is an important part of business in China. It is basically the personal connection and level of trust between two people or companies. The more the business relationship evolves successfully, the higher the amount of Guanxi will be. Guanxi is also used to describe how useful a person or company would be a resolving a problem.